Accounting for Changes in the Homeownership Rate

Yoshiro Miwa, Matthew Chambers (), Carlos Garriga () and Don Schlagenhauf
Additional contact information
Yoshiro Miwa: Faculty of Economics, University of Tokyo

No CIRJE-F-312, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: After years of being relatively constant, the homeownership rate -a target for housing policy- has increased since 1995. This paper attempts to understand why the homeownership rate has been increasing by constructing a quantitative model and then using this model to evaluate explanations that have been offered to account for this increase. We find that the increase in the homeownership can be explained by innovations in the mortgage market that allows households to take a positive housing investment position with a much smaller downpayment.

Pages: 38 pages
Date: 2004-12
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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http://www.cirje.e.u-tokyo.ac.jp/research/dp/2004/2004cf312.pdf (application/pdf)

Related works:
Journal Article: ACCOUNTING FOR CHANGES IN THE HOMEOWNERSHIP RATE (2009)
Working Paper: Accounting for changes in the homeownership rate (2007)
Working Paper: Accounting for changes in the homeownership rate (2007)
Working Paper: Accounting for Changes in the Homeownership Rate (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2004cf312

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